Dingdong (Cayman) Limited (NYSE:DDL) Short Interest Update

Dingdong (Cayman) Limited (NYSE:DDLGet Free Report) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 1,680,000 shares, a decline of 10.6% from the May 31st total of 1,880,000 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 453,700 shares, the days-to-cover ratio is presently 3.7 days.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. cut their price objective on Dingdong (Cayman) from $1.40 to $1.15 and set an “underweight” rating on the stock in a research note on Tuesday, March 5th.

View Our Latest Stock Report on DDL

Dingdong (Cayman) Stock Performance

Shares of NYSE:DDL traded up $0.01 during trading on Wednesday, reaching $2.06. The stock had a trading volume of 181,402 shares, compared to its average volume of 406,481. Dingdong has a 52 week low of $1.07 and a 52 week high of $3.17. The firm’s fifty day moving average is $1.87 and its 200 day moving average is $1.50. The stock has a market cap of $486.63 million, a price-to-earnings ratio of -68.67 and a beta of 0.25.

Hedge Funds Weigh In On Dingdong (Cayman)

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Platinum Investment Management Ltd. raised its position in shares of Dingdong (Cayman) by 1.8% in the 4th quarter. Platinum Investment Management Ltd. now owns 9,308,945 shares of the company’s stock worth $13,963,000 after acquiring an additional 166,736 shares in the last quarter. Virtu Financial LLC acquired a new stake in Dingdong (Cayman) during the first quarter worth approximately $54,000. Finally, Vanguard Group Inc. increased its holdings in Dingdong (Cayman) by 0.4% in the first quarter. Vanguard Group Inc. now owns 4,849,609 shares of the company’s stock worth $5,917,000 after purchasing an additional 17,900 shares in the last quarter. Institutional investors and hedge funds own 24.66% of the company’s stock.

About Dingdong (Cayman)

(Get Free Report)

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.

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